Refco Trustee Takes Aim At Big Guns

Law360, New York (August 22, 2007, 12:00 AM EDT) -- Still looking for answers in the wake of Refco's implosion, the Refco Litigation Trust has fired off a lawsuit against the brokerage giant's top advisers, alleging that the group knowingly aided former CEO Phillip Bennett and the other officers in looting the company.

The Refco Litigation Trust on Monday filed suit in the Circuit Court of Cook County, Illinois, accusing dozens of Refco's onetime legal, accounting and financial advisers of taking part in the widespread securities fraud that triggered the brokerage's collapse.